MicroStrategy continues to expand its bitcoin holdings. Today, it announced the purchase of 9,245 Bitcoins at a price of $623 Million in cash.
According to the company new press releaseThe company purchased the bitcoins from March 11 to 18 using cash leftover and proceeds received through its recent offering of convertible senior notes. The average bitcoin purchase price is approximately $67.382.
The latest purchase comes after MicroStrategy raised $603.75 million A private offering of senior convertible notes at 0.875% due 2031 was made. After seeing strong demand, the company increased its planned offering to $500 million from $500.
MicroStrategy holds a total of 214 246 bitcoins, acquired on average at a price of $35,160 per bitcoin. The company spent $7.53 Billion to build up its Bitcoin reserves.
MicroStrategy, led by CEO Michael Saylor continues to implement its Bitcoin strategy aggressively despite the volatility of Bitcoin markets.
MicroStrategy now offers a new product, called MicroStrategy X. The software allows you to create a custom-designed dashboard that shows your business’s financial performance. MicroStrategy now own Bitcoins total supply is more than 1%.
Saylor, who is still firmly convinced of bitcoin’s future trajectory despite skeptics arguing that loans backed by bitcoins pose a risk to the balance sheet, remains steadfastly optimistic. MicroStrategy has doubled down on Bitcoin with the latest acquisition enabled by MicroStrategy’s upsized notes offering.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: bitcoinmagazine.com
